RIBA Venues– Conference Levels Are at a Highdespite a Slow Economy

RIBA Venues– Conference Levels Are at a Highdespite a Slow Economy

Although most industries are struggling due to a slow economy, the demand for conferences is at a high which indicates the change in the way companies do business.

27 April 2015 – United Kingdom – Bookings numbers are at a high for many conference room providers despite the poor economy where many other businesses are struggling for sales. Much of this demand is because of the way companies are now doing business.

Many companies are trying hard to reduce spending to an absolute minimum with many only spending on absolute essential products. Businesses are buying based on risk rather than price as companies can no longer afford to take risks and buy products or services on a whim. Conferences allow companies to get in front of prospective clients and demonstrate why their products or services are needed and most importantly, why they represent a low risk.

More and more companies are recognising the change in the way companies do business and are holding regular conferences. Businesses are much more likely to attend a conference where they can learn more about a particular product or service than they are to agree to a sales meeting.

Stephanie Ellrott from RIBA Venues, a conference venue in London, said “it was predicted that conference numbers would reduce in the recession especially with the rise of the digital age and that more companies would run online conferences instead to cut costs. Although online conferences are popular, businesses have found that the effectiveness of online conferences is not as high because online conferences lack the personal touch.”

Despite the slow economy, companies that have innovative sales and marketing strategies are thriving. This shows that there is plenty of business out there but companies have to think smart and have an effective sales strategy to be successful.